The businessman, in his grievance on Thursday, mentioned that he obtained a WhatsApp message on his cell on July 17, from an unknown quantity, sharing a “Reliance Capital Limited Primary Market Account Registration Form.” They requested him to deposit ₹50,000 promising greater returned in a day’s time. Out of curiosity, he invested the cash and noticed a 5% revenue the following day. He wished to promote the shares however the different buyers within the group recommended him to proceed and go for greater funding. Following the recommendation, he invested an enormous sum of cash and realised that he has been trapped .
In his grievance, he mentioned that he allotted a complete of 42,381 shares after making the cost of ₹18,99,940.23. They requested him to shut the commerce and confirmed the revenue of 120%.
“When I utilized for the 2nd IPO (Initial Public Offering), I used to be allotted 1,09,824 shares and the quantity required was ₹81,09,404.16. I used to be in need of ₹35,01,000 and that i instructed them that I might not be capable of pay this quantity. They mentioned that if I didn’t pay the remaining cash, the quantity couldn’t be refunded. So, i borrowed the remainder of the quantity to pay,” he acknowledged within the grievance, including that they provided him short-term mortgage for the scarcity and requested him to repay inside 5 days, and instructed him that he can withdraw all the cash.
“When I repaid again the quantity, they requested me to promote the IPO and confirmed the whole revenue quantity to ₹1,26,28,000. After this, they instructed me to use for the withdrawal of the cash and requested me to pay 15% brokerage prices of the revenue quantity, that’s ₹ 11,00,000,” the sufferer mentioned in his grievance.
After paying the quantity, they instructed to pay 10% custodian prices of ₹12,00,000. This is when he bought a doubt and enquired together with his buddies they usually instructed him that it was a entice.
Another incident
In an analogous incident, a 63-year-old retired worker and resident of Kodihalli, misplaced ₹76 lakh to comparable modus operandi and filed a grievance with the East Division Cyber Crime Police on Thursday.
She got here involved with the accused who added her to a “Reliance person unique service Group” on July 2.
She began investing in pull up shares, Block commerce and IPO(Initial public Offering) price ₹76,55,264.
In her grievance, she mentioned that she stopped the funding on August 22, and requested for withdrawal of the quantity and was instructed to pay 10% brokerage quantity for the revenue gained.
She requested them to deduct the brokerage quantity from her account however they insisted on paying the brokerage quantity seprately.
Published – September 13, 2025 11:37 pm IST
